Electric Bike Supermarket have partnered with the Green Commute Initiative to provide our customers a bespoke Cycle to Work Scheme.
Green Commute Initiative is the industry-leading and award-winning cycle-to-work scheme with no limits.
GCI’s scheme has no £1,000 limit and no scheme exit fees.
You can save from 32-47% (depending on your tax rate).
Pay monthly through salary sacrifice with no added interest.
Salary sacrifice periods can be from 12-60 months.
Get an E-bike or conventional cycle through GCI and help reduce congestion and pollution whilst improving your health, fitness and mental wellbeing.
If you have any questions or are looking for advice please contact us on 01244 544711 or make an appointment
Please use the calculator below to work out your overall savings:
Why no £1000 limit?
GCI are able to exceed the normal C2W £1,000 limit because they're authorised and regulated by the Financial Conduct Authority.
How does it work?
Your employer buys and provides you with voucher for the hire of the equipment directly from us. You repay them the cost of the voucher via Salary Sacrifice
What will I save?
If you are a higher rate taxpayer you will save 42%. If you are lower rate you will save 32%.
We already have a cycle to work scheme, can we have GCI aswell?
Yes, you can! Organisations can choose to run different cycle-to-work schemes at the same time. There are no rules that say otherwise. Some clients use their current providers for traditional bikes under £1,000 and GCI for bikes over £1,000.
Please remember GCI does not charge a ‘sting-in-the-tail’ exit fee, unlike other schemes which charge up to 7% of the full value of the bike. GCI ensures you get the full benefit of the tax-break from HMRC. After the free of charge extended loan period, there is a nominal £1 fee to transfer title ownership of the bike.
Will it create lots of administration for my organisation?
No! GCI handles all the admin using standard templates for the Salary Sacrifice Agreement and the Hire Agreement which are sent out electronically. Once those have been signed, GCI ensures all parties receive their copies and send out the voucher.
What happens at the end of the hire?
At the end of the hire, we can’t simply give you the bike, because there will be a tax liability.
So we make you a free of charge loan of the bike. We also appoint you to dispose of the bike to a third party of your choosing at the end of the loan if you want to and when you do you pay us £1. The loan is 4 years and in practice it's your bike from day one.
Do I qualify?
You must be a PAYE payer and your employer has to buy the voucher. You also must be able to sacrifice the required amount without going below Minimum Wage.
Please call your local reseller, Electric Bike Supermarket: 01244 544711 or
Call 'The Green Commute Initiative' directly on: 020 3740 1836
mail: email@example.com web: www.greencommuteinitiative.uk
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